Troubles among small businesses is trouble for the entire country’s economy as many are unable to pay rent

100-year-old-business-closes Espositos, an Italian-American family run pork store open for 100 years, says goodbye to the neighborhood on their final day in business, April 10, 2023, in the Carroll Gardens neighborhood of Brooklyn, New York. Small businesses across the U.S. are struggling to stay open amid skyrocketing rent prices. ANDREW LICHTENSTEIN/CORBIS VIA GETTY IMAGES

Revelation 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • A significant number of small businesses across the nation are struggling to pay rent due to skyrocketing costs, a recent study by business networking platform Alignable found.
  • The company’s latest Small Business Rent report, published on Friday, found that 43 percent of small business renters in the U.S. were unable to pay their rent in full and on time in the month of April. Such a high delinquency rate hasn’t been reported in the U.S. since March 2021, at the height of the COVID-19 pandemic, when it reached 49 percent.
  • The delinquency rate was also four percentage points higher than in March, making it the largest month-over-month surge in over a year, according to data analyzed by Alignable. Newsweek contacted Alignable for comment by email on Tuesday morning.
  • The state with the highest delinquency rate in the country was Texas with 52 percent of small business owners unable to pay their rent in full and on time in April, followed by Massachusetts (47 percent), California (46 percent), Maryland (42 percent), New York and Washington State (39 percent). The lowest delinquency rate was in Colorado, with 26 percent.
  • Troubles among small businesses is trouble for the entire country’s economy, as small businesses employ nearly half of the entire American workforce, according to the U.S. Chamber of Commerce, and represents 43.5 percent of American GDP.

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